Alleghany's Underwriters Re Assigned Best Rating

NU Online News Service, July 3, 3:50 p.m. EDT?Insurance rater A.M. Best has assigned an "A" (Excellent) financialstrength rating to Underwriters Reinsurance Company, a businessthat was recently acquired by Alleghany Corporation to help supportfuture businesses of Alleghany's newly purchased Royal SpecialtyUnderwriting Inc.

Alleghany's previously announced $115 million deal to purchaseRoyal Specialty Underwriting--along with a managing underwritingagency, renewal rights to the ongoing business underwritten byRoyal Specialty Underwriting, and the related unearned premiumreserve portfolio--was completed this week.

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